Cattle – Weekly Continuous: The gray vertical bars represent the expiration month of labeled contract and have prices of each contract as of today labeled. The 2019 low has provided a pivot for a parallel uptrend line (highlighted in yellow) that has acted as a strong magnet since moving up off the covid crash low. Any of the lines could act as Support or Resistance. Further support marked in gray, risk area marked in red, and opportunity area marked in green. Deferred contracts can use the uptrend/downtrend lines or highlighted areas as well…
April Cattle approaching Resistance/opportunity area, Risk is 128 – 132
April Cattle approaching Resistance/opportunity area, Risk is 128 – 132
